Form 4: SVP/Chief Accounting Officer Rossi Reports PGC Stock Transactions

Peapack Gladstone Financial Corp's SVP/Chief Accounting Officer, Francesco S. Rossi, reported recent transactions involving common stock and derivative securities, including RSU settlements and phantom stock grants.

Summary

• Francesco S. Rossi, SVP/Chief Accounting Officer of Peapack Gladstone Financial Corp (PGC), reported transactions on March 20, 2026.
• Acquired 763 shares of common stock through the exercise or conversion of derivative securities.
• Disposed of 280 shares of common stock at a price of $33.18 per share to satisfy tax withholding obligations related to the settlement of restricted stock units.
• Following these transactions, Rossi directly beneficially owns 5,687 shares of common stock.
• Additionally, Rossi indirectly beneficially owns 4,943.79 shares of common stock through an Employee Stock Purchase Plan.
• Derivative transactions included the conversion of 763 Restricted Stock Units (RSUs) into common stock, resulting in 0 RSUs beneficially owned.
• Phantom stock transactions involved the conversion of 743, 584, and 255 phantom stock shares, with 743 and 1,170 phantom stock shares remaining beneficially owned from previous grants, respectively, and 0 from the 255 conversion.
• A new grant of 1,893 phantom stock shares was received on March 20, 2026, with these shares now beneficially owned.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine disclosure of executive compensation activity, reflecting ongoing equity grants and vesting, which is generally neutral but shows continued alignment of management interests with shareholders.

Positives

• The reporting person received a new grant of 1,893 phantom stock shares on March 20, 2026, aligning executive compensation with future company performance.
• Ongoing vesting of equity awards demonstrates continued executive interest and alignment with shareholder value.

Negatives

• 280 shares of common stock were disposed of at $33.18 per share to cover tax withholding obligations, reducing direct beneficial ownership.

Future Outlook

The reporting person has future vesting installments for phantom stock shares granted in 2024 (beginning March 20, 2025), 2025 (beginning March 20, 2026), and 2026 (beginning March 20, 2027), indicating continued long-term equity compensation.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as the vesting of restricted stock units and phantom stock, followed by share withholding for tax purposes, are standard components of executive compensation packages across the financial services industry. These transactions typically reflect pre-scheduled equity awards rather than discretionary trading decisions, and generally do not signal significant shifts in company strategy or performance.

Stakeholder Impact

• Shareholders: The ongoing equity grants and holdings by a key executive demonstrate continued alignment of management's financial interests with shareholder value.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

• Future vesting of phantom stock shares granted on March 20, 2024, with installments beginning March 20, 2025.
• Future vesting of phantom stock shares granted on March 20, 2025, with installments beginning March 20, 2026.
• Future vesting of phantom stock shares granted on March 20, 2026, with installments beginning March 20, 2027.

Key Dates

Recommendation

This Form 4 details routine executive compensation activities, including the vesting of restricted stock units and phantom stock, along with shares withheld for tax purposes. Such transactions are standard and do not typically indicate a change in the company's fundamental outlook or warrant a shift in investment strategy. The ongoing grants and holdings suggest continued alignment of management with shareholder interests, supporting a 'hold' recommendation.

Keywords

PEAPACK GLADSTONE FINANCIAL CORP, PGC, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Phantom Stock, Beneficial Ownership, Francesco S. Rossi